Investing.com – The yen slid to a 4-day low against the U.S. dollar on Wednesday, as a deputy governor of the Bank of Japan said there were positive signs that Japan would eventually escape deflation.
USD/JPY rose to 93.4 during European morning trade, its highest since last Thursday; the pair subsequently consolidated around 93.38, gaining 0.17%.
The pair was likely to find resistance at 94.67, the high of April 5, and support at 91.59, Monday's low.
Earlier Wednesday, Reuters quoted Kiyohiko Nishimura, the BOJ official, as saying: "Some beams of light are starting to break through a thick cloud of deflation."
The yen also plummeted versus sterling on Wednesday, in the wake of better-than-expected U.K. jobs data. GBP/USD jumped 0.66% % to reach 144.1, a 3-day high.
Later in the day, U.S. Federal Reserve Chairman Ben Bernanke was set to speak at an event in Washington, D.C. Traders were likely to scrutinize his comments for clues to future shifts in monetary policy.
USD/JPY rose to 93.4 during European morning trade, its highest since last Thursday; the pair subsequently consolidated around 93.38, gaining 0.17%.
The pair was likely to find resistance at 94.67, the high of April 5, and support at 91.59, Monday's low.
Earlier Wednesday, Reuters quoted Kiyohiko Nishimura, the BOJ official, as saying: "Some beams of light are starting to break through a thick cloud of deflation."
The yen also plummeted versus sterling on Wednesday, in the wake of better-than-expected U.K. jobs data. GBP/USD jumped 0.66% % to reach 144.1, a 3-day high.
Later in the day, U.S. Federal Reserve Chairman Ben Bernanke was set to speak at an event in Washington, D.C. Traders were likely to scrutinize his comments for clues to future shifts in monetary policy.